The French pharmaceutical group had remained silent since the leaks in the press last month about his interest in American business.The CEO of Sanofi-Aventis, Chris Viehbacher, confirmed to Le Figaro that the group would continue its acquisition policy.

A world leader in the development

The main shareholder of Sanofi-Aventis, L'Oréal and Total, is shown also booked on the takeover, fearing that the French pharmaceutical group pays its target too cher.Le board of the group had warned that he does not go beyond $ 70 per share. Analysts estimated the amount of money available for redemption at about 20 billion euros.

In a statement, Sanofi-Aventis said that "bringing the two companies would create a global leader in the development and availability of new treatments, bringing to each new significant growth opportunities."

Revenues climbed 5.2% to 52.80 billion dollars over the period against 50.21 billion recorded last year. A performance that the group attributed to the rise in copper, nickel and aluminum.The Group has revised upwards its dividend payment that passes, as expected by analysts, cons 41cents to 45 cents a year earlier.

The company said again be able to complete the acquisition of Potash for $ 40 billion. The group's net debt declined to $ 3.3 billion.

For the future, BHP Billiton remains cautious. The Anglo-Australian group said it expected slower growth in China, its largest market, where the economy should grow by 8% in 2011. Overall, the global outlook in the short term are still uncertain for the commodities sector. Without more details, BHP Billition believes that steel production is currently exceeding the actual demand.

The Paris Bourse is expected to remain broadly in the green, but the pace of growth should be lower on Tuesday. This is what is happening in Asia this morning.

The program of the Tuesday meeting, noted that prices for industrial production for June in the eurozone will be published at 11:00. American side, the expected numbers today should facilitate the session, including spending at 14.30 and household income, and 16 hours, industrial orders in July and promises of housing sales in June

Meanwhile, the euro remains at its highest in three months against the dollar.The euro rose as optimism in Europe and at the same time, the dollar is falling while stock markets advance and the risk appetite grows.

The eyes of Sanofi-Aventis Genzyme

Sanofi-Aventis, Genzyme has sent a letter mentioning his interest in the company, a source close to the deal, adding that the two companies were discussing the offer fast cash advance loan.

The chemicals group Arkema has published quarterly results on Tuesday sharply up, saying he made "his best performance history" since its IPO in 2006. Quarterly profit was 119 million euros, against a loss of 114 million euros in the second quarter of 2009.Revenues soared 38% to 1.6 billion euros and gross operating profit (EBITDA) reached 241 million, against only 70 million a year earlier.

CNP Assurances announced Monday that it bought back 65% stake in MFPPrévoyance, a subsidiary of MFP Services, a group of specialized mutual insurance officials. This stake will cost 86.5 million euros to the French insurer.

General Health. The former manager of French private clinics and hospitals on Monday published a half-year revenue declined 4.7% to 1 billion euros, which also reported an increase of 8.8% in profit operating income, to 80.4 million.

In an interview with Le Figaro, Benoît Potier, Chairman and CEO of Air Liquide, ensures that the large industrial groups have restructured and fully benefit from the recovery.

Seven of the 91 major European banks subject to tests of resistance have been repositioned, said Friday the Committee of European Regulators (CEBS), which means they will raise funds to strengthen their position financière.Il are five banks Spanish (Civica Cajasur, Unnim, and Espiga Diada), a bank Greek (Atebank) and Germany's Hypo Real Estate.

European regulators have scrutinized the 91 largest banks in the European Union to ensure that their capital levels are sufficient to enable them to cope with shocks even more severe than the bankruptcy of Lehman Brothers in September 2008, which sparked a near-collapse of global financial markets. Banks unable to maintain a ratio of Tier 1 capital of at least 6% by end 2011 in the hardest of these scenarios will be considered as having failed the tests.

France has fully passed the examination, the four banks involved in these tests (BNP Paribas, Societe Generale, Credit Agricole and Banque Populaire BPCE-Caisse d'Epargne) have shown that they retain a sufficient level of funds in proportion The different scenarios.

The "brand of French banks is really a very strong resilience, welcomed Christian Noyer, governor of the Bank of France, with the results of these tests, commissioned by the European Commission and organized by the CEBS (Committee European Banking Supervisors). With these results, show that French banks "are among the strongest in Europe," says the Bank of France again. These results were "predictable" because they are "in line with results obtained in tests conducted regularly in France and the demonstrated ability of French banks weather the recent crisis", he added.

Banks were tested maintain a level of equity called "Tier One" (reported capital commitments of the bank) of 6% for the regulator considers that they had passed the test.However, tests have shown that if stress of a major financial crisis, the ratio of cumulative four French banks would fall to 9.3% at end 2011 against 9.9% in late 2009. For Christian Noyer, even in cases of "adverse scenario, the banks maintain a" level of income in 2010 and 2011 roughly the same as in 2009.

David Riley, head of Fitch Sovereign risk has certainly not been outright, but he wished to remind the public announcement of his agency last March 30, confirming the rating of "AAA with stable outlook, the best that either.Since then the agency, including half of the experts working in London and New York, has published another "positive comment", May 28, welcoming the conference at the Elysee on public finances with the social partners.

The diagnosis remains the same, if we believe the criteria provided by Fitch. Compared to other AAA-rated sovereign states (a dozen Worldwide), France is characterized by a per capita income slightly below average (around 35,000 dollars against 37,500).

Challenge for France

Instead, it relies on a level of inflation among the lowest and least volatile and "stability of tax revenues" (well above the average for other countries AAA).David Riley has also recalled that France had not had to suffer a banking crisis, unlike the United Kingdom or the United States, and its level of budget deficit below these two countries. Still, the notes are never acquired for eternity. "If the debt level should continue to grow, the question might arise in the medium term. But it is a challenge that France is not alone in facing. "

Fitch's meeting was not intended to scrutinize the French case but to explain the mode of operation of the agency. "If BP makes a mistake in the Gulf of Mexico, we do not criticize all the oil companies so we constantly amalgam when it comes to rating agencies' protests Marc Ladreit de Lacharriere.It will distinguish itself from its major competitors "doing work more than other analysts, in order to provide a diagnosis if not more documented beyond doubt. "Because ultimately, it is the investors who are the referees. The euro area is structurally borrowing outside for more than 1000 billion euros, "he quips. Some would in fact that the ECB could build itself a rating agency, which would obviously be judge and party.

David Riley the opportunity to explain why Fitch is expected to worsen 28 May Spain to AA +, which then was considered the final blow vis-à-vis a country plagued by the suspicion of markets."What then has changed? The worse than expected deterioration of public finances, the slow pace of restructuring savings, the contagion of the crisis and the deteriorating Greek sustainable growth prospects. Our decision was taken after a long period of explanation with the Spanish government, "he says.

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Latin America, including Brazil and Venezuela are conversely very slow (169 days and 179 days respectively), as well as China (99 days).If the countries of the OECD (Organization for Economic Cooperation and Development) are mostly very open to foreign ownership in their enterprises, as well as Eastern Europe and Central Asia, Asia East and the Pacific, except Singapore of course, found the greatest number of restrictions, especially in China and Indonesia, says World Bank.

The East Asia stands out even more in the area of land since, apart from Malaysia, Thailand and Singapore, no country in the region reviewed by the bank allows foreigners to own their own land This poses no problem unlike in the OECD countries or in Eastern Europe and Central Asia.

And, notes the World Bank, countries are best placed in the report are those "who also tend to attract more foreign investment in relation to the size of their economies and their people. Conversely, countries whose scores are lower tend towards higher levels of corruption, a higher political risk and governance structures are weakest.

This will be overtaken by Apple at the end of this year. Apple is expected to generate $ 281 million in sales by selling movies online this year against 160 million in revenue for the VOD service from Time Warner Cable. The firm is expected to apple store almost 35 million transactions in 2010 against 30.5 million for the second U.S. cable operator. Still Number One, Comcast will make a turnover of 380 million dollars with 88 million transactions."While the pay-TV players offer to lease the works in DOS, Apple sells movies. The pricing is more beneficial to Apple, "said Dan Cryan, responsible Broadband Media at Screen Digest.

In 2014, the reverse hierarchy: Apple should be leading with 470 million dollars in revenue for 56 million transactions, when Comcast will reach 400 million dollars in sales with 108 million records of tenancy, says Screen Digest. At that time, Apple will control 32% of video market demand pay.

Google TV has a playing card

This leadership position gives Apple the opportunity to influence the price of selling movies for download, as the U.S. group has done in music.Another advantage is the unit sales reported more income to the beneficiaries that the subscription models or lease and therefore the iTunes Store a valuable partner for the studios, which multiply the simultaneous releases in theaters and on video.

If the model for the iTunes Store gives a good lead time to Apple in VOD, it is not certain that the firm with apple foreclosing the movie as it did for digital music. "There was an effect on iPod music because of the integration platform for downloading with the terminal was better, because the iPod allowed to make music where consumers want to have it ie mobility. It is not certain that the iPad plays that role for the film, Dan Cryan analysis. Terminals other than the PC are key to getting consumers to pay for entertainment.But for video, this advantage is less pronounced for the iPad for a TV. This is Google, with its Google TV decoder, which brings Web video into television, has a playing card. "Indeed, the Internet group has not discussed a possible blocking of illegal content which could online access through Google TV. This vagueness could benefit from piracy: "iTunes is selling on average 30 songs per iPod sold, the rest of the music is not purchased it is copied from CD or downloaded illegally. There could have the same effect on Google TV. The party has just begun in the video, "said Dan Cryan.

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Three new revelations raise yet the question of the role of authorities in the case Bettencourt they were aware of alleged tax evasion of billionaire? If yes, what services were? Have they closed their eyes?

According to the weekly Marianne, the court was aware since 2008 of the possible tax evasion billionaire but failed to alert the tax authorities and has not triggered the investigation into the case. In support of these assertions, Marianne published in its Saturday edition of extracts from documents in the preliminary inquiry by the prosecutor in Nanterre, on the complaint of the daughter of Liliane Bettencourt cons photographer François-Marie Banier.

One of these pieces is a letter from François-Marie Banier to billionaire, dated May 19, 2005, where the artist makes reference to Arros Island, Seychelles. An island that he told him he "has to buy.But the tax on capital 2007 Lilliane Bettencourt, including Marianne also publishes an extract, made no mention of this island. But "the judiciary chose to close his eyes," says the weekly, indicating that the prosecution was under the legal obligation on the basis of these elements, "seize the treasury that it is launching an investigation" .

"Nothing has been hidden"

Contradicting these findings, the prosecutor Philippe Courroye said Friday that "tax administration was warned Jan. 9, 2009 that this issue was likely to highlight elements of tax evasion." "The administration is aware of all the evidence.Nothing has been overlooked, "said the prosecutor, adding that the prosecution could not decide alone to grab a result of tax evasion.

According to the website bakchich.info, Bercy could anyway not ignore the "chow" tax between the photographer and heiress. Indeed, says the site, the department has recovered in 2008 a list of 500 French tax evaders in Liechtenstein, including Francois-Marie Banier. The case of the latter was even transferred, according Bribe, to the National Audit tax situations (DNVSF), responsible for the peel. Two years later, there would always be.

A tax adjustment for Francois-Marie Banier

Labour Minister, Eric Woerth, has responded to this information have launched Friday by announcing in 2009, when he was Minister of Budget, fiscal control of the artist Francois-Marie Banier."There was a notice of recovery, accepted and resolved," said his lawyer Temime. "It is unrelated assets abroad or with the proceedings" on donations made by Ms. Bettencourt Francois-Marie Banier.

Asked on Friday on France Inter, Economy Minister Christine Lagarde said she was "very surprised" that the billionaire is not the subject of tax examinations regularly every three or four years, "as in the case for all very large estates.

On Saturday, the modem has meanwhile said it was "very difficult to drive an issue like pensions while being the subject of everyday revelations." Francois Bayrou who was speaking at a press briefing in the House, insisted: 'The French clearly see that there is a concern.There is a weakening of the government and all those who, in his name, driving a number of reforms. "

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Around 6.45 am, the Nikkei 225 abandoned nearly 2% to 9731 points, rapidly away from the 10,000 points mark. Consumer prices in Japan excluding perishables, fell 1.2% year on year in May, the fifteenth consecutive monthly decline, said Friday the Ministry of Home Affairs. Excluding not only nutrition, but also energy, consumer prices appear down 1.6% over one year.

Elsewhere, the mood is gloomy, with Hang Seng (Hong Kong Stock Exchange) that descends from 0.65% to 20,599 points, the S & P / ASX Australian yields 1.4% to 4417 points, and Straits of Singapore who drops more tentatively 0.1% to 2844 points.In India, the Bombay SE 30 was down 0.73% at 17,600 points.

The yuan continues to rise

In China, Shanghai fold from 0.69% at 20,590 points. On the eve of the G20 Toronto, Chinese President Hu Jintao called on Thursday for a fresh start and a strengthening of relations between China and Canada, despite some disputes.

The Central Bank of China has also set an exchange rate of yuan against the dollar lower on Friday, which means that the yuan appreciates.The institute has decided on a central parity of 6.7896 yuan against the dollar, 0.3% higher than the 6.8100 yuan to the dollar yesterday.

In its statement, the central bank said it wanted to keep the yuan "basically stable", a term required to show its willingness to avoid any sudden movement of the currency.

The oil also

Crude prices were up Friday in electronic trading in Asia, investors wanting to believe in some indicators better than expected in the United States despite doubts about the U.S. economy. The barrel is 76.65 dollars.

Thursday, across the Atlantic, new jobless claims in the U.S. fell for the first time in three weeks, more than expected, but the new orders for durable goods fell for the first time in six months in May from particular down by purchases in the aviation sector.

Pressed by their bases, the unions had no choice but to break with Zapatero. That, of course, the single most dramatic reduction plan deficits that ignited the powder: falling wages in the public service, 5% on average in the month of June, arouses indignation public employees. But the unions' own admission, is the absence of any consultation that infuriates most."We do not even ask for the withdrawal of the measure," says Julio Lacuerda, the Secretary General of the Federation of utilities UGT. The unions are aware that these decisions will be implemented. The austerity plan is required by the markets, the European Union and … by the United States, including the president himself, Barack Obama, called Zapatero payday loan no faxing.

A war of figures

Therefore, the event serves as a test of officials for each game. The first testing their strength before calling, "if necessary", a general strike. The executive, for its part, gauge the discontent before announcing new measures unpopular. First, the reform of the labor market, to be unveiled June 16 Meanwhile, everyone engaged in a war of numbers.For unions, 75% of staff were on strike Tuesday. The government says they were only 11%.

Above all, workers' representatives refuse to be the only ones to pay. "Why do we keep our troops in Afghanistan? Why do we continue to offer 900 million euros in tax subsidies to the Catholic Church? "Interrogates Julio Lacuerda. While Zapatero announced the creation of a new tax on the rich and inspired by the French TFR. But according to his own statements, "99.99%" of the Spaniards should escape.

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